Day: May 24, 2020

On May 4, a day filled with nerdy Star Wars jokes, Google‘s public search liaison Danny Sullivan made an important announcement via Twitter: “Later today, we are releasing a broad core algorithm update, as we do several times per year. It is called the May 2020 Core Update. Our guidance about such updates remains as we’ve covered before. Please see this blog post here.

Later today, we are releasing a broad core algorithm update, as we do several times per year. It is called the May 2020 Core Update. Our guidance about such updates remains as we’ve covered before. Please see this blog post for more about that:https://t.co/e5ZQUAlt0G

In a new set of measures to reduce the impact of coronavirus lockdown on the economy, the Reserve Bank of India (RBI) on Friday decided to cut the repo rate by 40 basis points from 4.4 per cent to 4 per cent. The reverse repo rate was also reduced by 40 basis points to 3.35 per cent. What will be the impact of these rate cuts on fixed deposits (FDs), one of the most popular investment avenues?

Many people prefer bank FDs over equities as the former are considered safe. However, the recent spate of rate cuts could mean another bad news for savers.

Senior Congress leader P Chidambaram on Saturday asked RBI Governor Shaktikanta Das to “bluntly” tell the government to do its duty and take fiscal measures if he feels that the demand has collapsed and the GDP growth is heading towards negative territory.

He also asked if the prime minister or the finance minister will laud themselves for the fiscal stimulus after the RBI chief’s statement.

“Governor Shaktikanta Das says demand has collapsed, growth in 2020-21 headed toward negative territory. Why is he then infusing more liquidity? He should bluntly tell the government ‘Do your duty, take fiscal measures’,” the former finance minister said in a tweet.

“Even after RBI’s statement, is the PM or Nirmala Sitharaman lauding themselves for a package that has fiscal stimulus of less than 1 pc of GDP,” he asked.

Commodity prices jumped by 1-3 per cent during the past one week on renewed hope of recovery in demand, with the huge economic stimulus seen supporting the recommencement of global infrastructure activity. The likely rebound will have its roots in the gradual opening of economies worldwide after almost three months of lockdown.

While aluminium prices on the benchmark London Metal Exchange (LME) rose 2.8 per cent to trade at $1,473 a tonne on Friday, copper was up 1.5 per cent to $5,242.5 a tonne. Brent crude shot up by 9.6 per cent in a week to $34.5 a barrel, iron ore and natural gas posted weekly gains of 5.7 per cent and 5.2 per cent, to $91.4 a tonne and $1.7 per mmbtu, respectively.

With global economies providing huge stimulus to bring business back on track, the average consumer is expected